Turtle Run
Community Development District

Unaudited Financial Reporting
May31,2025

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2017	

5	
	Capital Projects Reserve Fund	

6-7	
	Month to Month	

8	
	Long Term Debt Report	

9	
	Assessment Receipt Schedule	

	Balance Sheet May 31, 2025		
	General Fund	Debt Service Fund	Capital Project Reserve Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	115,234	

$	-	

$	1,025	

$	116,259	
Due from General Fund	-	14,684	-	14,684	
Investments:
State Board of Administration - Operating Reserves	

645,838	

-	

-	

645,838	
State Board of Administration - Emergency Reserves	5,673	-	-	5,673	
State Board of Administration - Capital Reserves	-	-	1,942	1,942	
Bank United - Operating Reserves	965,926	-	-	965,926	
Bank United - Emergency Reserves	554,010	-	-	554,010	
Bank United - Capital Reserves	-	-	461,787	461,787	
Series 2017-1 Reserve	

-	

105,415	

-	

105,415	
Revenue	-	123,196	-	123,196	
Interest	-	6	-	6	
Principal	-	12	-	12	
Prepayment	-	3,586	-	3,586	
Series 2017-2 Reserve	

-	

147,692	

-	

147,692	
Revenue	-	183,255	-	183,255	
Interest	-	10	-	10	
Sinking	-	11	-	11	
Deposits	840	-	-	840	
Total Assets	$	2,287,521	$	577,867	$	464,754	$	3,330,142	

Liabilities:					
Accounts Payable	$	43,648	$	-	$	11,502	$	55,150	
Due to Debt Service	14,684	-	-	14,684	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	71,831	$	-	$	11,502	$	83,334	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:					
Debt Service	-	577,867	-	577,867	
Capital Project Reserve Fund	-	-	453,252	453,252	
Emergency Fund	559,683	-	-	559,683	
Unassigned	1,655,166	-	-	1,655,166	
Total Fund Balances	$	2,215,689	$	577,867	$	453,252	$	3,246,809	
					
Total Liabilities & Fund Balance	$	2,287,521	$	577,867	$	464,754	$	3,330,142	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 05/31/25	Thru 05/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	1,272,662	$	1,279,853	$	7,191	
Interest Income	95,000	63,333	58,999	(4,334)	
Other Income	-	-	100	100	
Total Revenues	$	1,367,662	$	1,335,995	$	1,338,952	$	2,957	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	16,000	$	7,600	$	8,400	
FICA Taxes	1,836	1,224	581	643	
Assessment Roll	2,000	2,000	2,000	-	
Attorney	65,000	43,333	38,540	4,793	
Attorney - Special Counsel	50,000	33,333	6,100	27,233	
Annual Audit	3,800	2,533	2,000	533	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	68,868	45,912	45,912	(0)	
Information Technology	1,000	667	667	0	
Website Maintenance	1,000	667	667	0	
Postage & Delivery	750	500	433	67	
Insurance General Liability	13,755	13,755	12,631	1,124	
Printing & Binding	2,000	1,333	307	1,026	
Rental & Leases	4,800	3,200	3,200	-	
Meeting Room	1,200	800	500	300	
Legal Advertising	1,500	1,000	303	697	
Other Current Charges	1,250	833	961	(128)	
Office Supplies	250	167	2	165	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	3,000	2,000	1,287	713	
Total General & Administrative	$	253,784	$	177,033	$	131,465	$	45,568	

Adopted	Prorated Budget	Actual	
Budget	Thru 05/31/25	Thru 05/31/25	Variance	

Operations & Maintenance		
Special Pay	$	1,500	$	1,500	$	1,500	$	-	
Field Management	80,000	53,333	53,333		(0)	
Video Monitoring	3,000	2,000	1,811		189	
Internet/Data	3,000	2,000	973		1,027	
Electric	112,898	75,265	66,588		8,677	
Water	11,000	7,333	5,144		2,190	
Insurance	54,547	54,547	48,802		5,745	
Weed Control	33,132	22,088	22,088		-	
Culvert Inspection	15,000	10,000	2,000		8,000	
Holiday Lighting/Decorations	77,000	77,000	77,647		(647)	
Iguana Removal	7,500	5,000	4,525		475	
Landscape Maintenance	356,614	237,743	241,703		(3,960)	
Pest Control/Fertilization	48,300	32,200	32,475		(275)	
Landscape Replacement	68,569	45,713	69,853		(24,140)	
Annual Tree Trimming	39,000	26,000	-		26,000	
Fountain Maintenance	4,000	2,667	2,330		337	
Fountain Repairs and Maintenance	7,500	5,000	3,980		1,021	
Irrigation Repairs/Maintenance	32,000	21,333	17,242		4,091	
Pressure Cleaning	37,070	37,070	36,450		620	
Contingencies	20,000	13,333	13,699		(366)	
Paver Repairs	10,000	10,000	11,684		(1,684)	
Lighting/Electrical Repairs	30,000	20,000	11,582		8,418	
RPM Replacements	4,500	4,500	8,640		(4,140)	
Rust Preventative TR Park	4,748	3,165	3,087		78	
Flags	3,000	2,000	5,149		(3,149)	
Total Operations & Maintenance	$	1,063,878	$	770,791	$	742,286	$	28,505	
									
Total Expenditures	$	1,317,662	$	947,824	$	873,751	$	74,073	
									
Excess (Deficiency) of Revenues over Expenditures	$	50,000	$	388,172	$	465,201	$	77,030	

Other Financing Sources/(Uses):

Transfer In/(Out)

$	(50,000)	$

(50,000)	$

(50,000)	$	-

Fund Balance - Ending	$	2,215,689

Fund Balance - Beginning	$	1,800,488

Net Change in Fund Balance	$	(0)	$	338,172	$	415,201	$	77,030

Total Other Financing Sources/(Uses)	$	(50,000)	$	(50,000)	$	(50,000)	$	-

Community Development District Debt Service Fund Series 2017
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended May 31, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 05/31/25	Thru 05/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	445,623	$	447,514	$	1,891	
Interest Income	-	-	18,096	18,096	
Total Revenues	$	445,623	$	445,623	$	465,610	$	19,987	

Expenditures:					
Series 2017-1
Interest - 11/1	

$	47,573	

$	47,573	

$	47,573	

$	(0)	
Interest - 5/1	47,573	47,573	47,573	(0)	
Principal - 5/1	90,000	90,000	90,000	-	
Series 2017-2
Interest - 11/1	

86,275	

86,275	

86,275	

-	
Interest - 5/1	86,275	86,275	86,275	-	
Principal - 5/1	85,000	85,000	85,000	-	
Total Expenditures	$	442,696	$	442,696	$	442,696	$	(0)	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,927	$	2,927	$	22,913	$	19,987	
					
Fund Balance - Beginning			$	554,954		
					
Fund Balance - Ending			$	577,867		

Community Development District Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended May 31, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 05/31/25	Thru 05/31/25	Variance	

Revenues		
Interest	$	500	$	333	$	12,700	$	12,367	
Total Revenues	$	500	$	333	$	12,700	$	12,367	

Expenditures:					
Bank Service Charges	$	-	$	-	$	682	$	(682)	
Engineering Fees	-	-	44,213	(44,213)	
Lights	-	-	5,600	(5,600)	
Flag Pole Lighting	-	-	11,502	(11,502)	
Fountain Equipment Replacement	-	-	9,293	(9,293)	
Signs	-	-	6,504	(6,504)	
Total Expenditures	$	-	$	-	$	77,794	$	(77,794)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	333	$	(65,094)	$	(65,427)	

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	50,000	$	50,000	$	50,000	$	-	
Total Other Financing Sources (Uses)	$	50,000	$	50,000	$	50,000	$	-	
					
Net Change in Fund Balance	$	50,500	$	50,333	$	(15,094)	$	(65,427)	
					
Fund Balance - Beginning			$	468,346		
					
Fund Balance - Ending			$	453,252		

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Revenues:														
Special Assessments - Tax Roll	$	-	$ 202,981	$ 1,007,459  $	17,696	$	7,843  $	9,544  $	20,370  $	13,960	$	-	$	-	$	-	$	-	$ 1,279,853	
Interest Income	6,513	5,575	5,666	8,805	7,956	8,629	7,983	7,873	-	-	-	-	58,999	
Other Income	-	100	-	-	-	-	-	-	-	-	-	-	100	
Total Revenues	$	6,513	$ 208,656	$ 1,013,125  $  26,501	$  15,799  $  18,173  $  28,353  $  21,832	$	-	$	-	$	-	$	-	$ 1,338,952	

Expenditures:							
General & Administrative:							
Supervisor Fees	$	2,000	$	-	$	1,000  $	-	$	1,800  $	800  $	1,000  $	1,000	$	-	$	-	$	-	$	-	$	7,600	
FICA Taxes	153	-	77	-	138	61	77	77	-	-	-	-	581	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	5,803	3,768	2,640	7,865	6,683	5,720	6,063	-	-	-	-	-	38,540	
Attorney - Special Counsel	-	903	280	1,190	1,940	420	1,368	-	-	-	-	-	6,100	
Annual Audit	-	-	-	-	-	-	-	2,000	-	-	-	-	2,000	
Arbitrage Rebate	-	-	600	-	-	-	-	-	-	-	-	-	600	
Trustee Fees	7,000	-	-	-	-	-	-	-	-	-	-	-	7,000	
Management Fees	5,739	5,739	5,739	5,739	5,739	5,739	5,739	5,739	-	-	-	-	45,912	
Information Technology	83	83	83	83	83	83	83	83	-	-	-	-	667	
Website Maintenance	83	83	83	83	83	83	83	83	-	-	-	-	667	
Postage & Delivery	37	40	74	47	16	159	45	15	-	-	-	-	433	
Insurance General Liability	12,631	-	-	-	-	-	-	-	-	-	-	-	12,631	
Printing & Binding	17	7	30	56	33	47	30	87	-	-	-	-	307	
Rental & Leases	400	400	400	400	400	400	400	400	-	-	-	-	3,200	
Meeting Room	100	100	-	100	100	100	-	-	-	-	-	-	500	
Legal Advertising	-	-	-	-	-	-	147	156	-	-	-	-	303	
Other Current Charges	183	114	101	101	101	101	101	162	-	-	-	-	961	
Office Supplies	-	2	-	-	-	-	-	-	-	-	-	-	2	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	234	234	234	234	117	-	234	-	-	-	-	-	1,287	
Total General & Administrative	$  36,637	$  11,472	$  11,340  $  15,898	$  17,233  $  13,713  $  15,369  $	9,803	$	-  $	-  $	-  $	-	$ 131,465	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Operations & Maintenance		
Special Pay	$	-	$	-	$	-	$	-	$	1,500	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,500	
Field Management	6,667	6,667	6,667	6,667	6,667	6,667	6,667	6,667	-	-	-	-	53,333	
Video Monitoring	226	226	226	226	226	226	226	226	-	-	-	-	1,811	
Internet/Data	138	148	138	138	138	138	138	-	-	-	-	-	973	
Electric	7,424	7,690	8,320	9,062	8,850	8,608	8,183	8,450	-	-	-	-	66,588	
Water	122	437	941	898	868	1,022	855	-	-	-	-	-	5,144	
Insurance	48,802	-	-	-	-	-	-	-	-	-	-	-	48,802	
Weed Control	2,761	2,761	2,761	2,761	2,761	2,761	2,761	2,761	-	-	-	-	22,088	
Culvert Inspection	-	-	-	800	1,200	-	-	-	-	-	-	-	2,000	
Holiday Lighting/Decorations	576	40,285	36,787	-	-	-	-	-	-	-	-	-	77,647	
Iguana Removal	625	625	625	625	775	625	625	-	-	-	-	-	4,525	
Landscape Maintenance	29,718	29,718	29,718	30,510	30,510	30,510	30,510	30,510	-	-	-	-	241,703	
Pest Control/Fertilization	4,300	4,025	4,025	4,025	4,025	4,025	4,025	4,025	-	-	-	-	32,475	
Landscape Replacement	7,366	3,674	2,477	9,410	2,226	2,143	8,788	-	-	-	-	-	36,085	
Annual Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Maintenance	285	285	285	295	295	295	295	295	-	-	-	-	2,330	
Fountain Repairs and Maintenance	600	1,186	-	1,206	-	814	-	175	-	-	-	-	3,980	
Irrigation Repairs/Maintenance	-	788	788	788	4,246	4,928	2,852	2,852	-	-	-	-	17,242	
Pressure Cleaning	-	36,450	-	-	-	-	-	-	-	-	-	-	36,450	
Contingencies	3,654	139	4,259	5,158	347	5	136	-	-	-	-	-	13,699	
Paver Repairs	-	4,300	-	-	-	7,384	-	-	-	-	-	-	11,684	
Lighting/Electrical Repairs	1,502	1,038	3,726	1,051	1,025	1,572	1,668	-	-	-	-	-	11,582	
RPM Replacements	-	-	-	-	-	8,640	-	-	-	-	-	-	8,640	
Rust Preventative TR Park	386	386	386	386	386	386	386	386	-	-	-	-	3,087	
Flags	-	-	650	-	-	-	4,499	-	-	-	-	-	5,149	
Total Operations & Maintenance	$ 115,151	$ 140,827	$ 102,778	$  74,006	$  66,046	$  80,748	$  72,615	$  56,346	$	-  $	-  $	-  $	-  $	708,518	
											
Total Expenditures	$ 151,788	$ 152,299	$ 114,119	$  89,904	$  83,278	$  94,461	$  87,984	$  66,149	$	-  $	-  $	-  $	-  $	839,983	
											
Excess (Deficiency) of Revenues over Expenditures	$ (145,276)	$  56,357	$ 899,006	$ (63,402)	$ (67,479)	$ (76,288)	$ (59,632)	$ (44,317)	$	-  $	-  $	-  $	-  $	498,969	

Other Financing Sources/Uses:											
Transfer In/(Out)	$ (50,000)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	(50,000)	
Total Other Financing Sources/Uses	$ (50,000)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	(50,000)	

Net Change in Fund Balance

$ (195,276) $  56,357  $ 899,006  $ (63,402) $ (67,479) $ (76,288) $ (59,632) $ (44,317) $

-  $

-  $

-  $

-  $ 448,969

Turtle Run
Community Development District Long Term Debt Report	
Series 2017-1, Special Assessment Bonds	

Interest Rate:	
2.000%		
Maturity Date:	5/1/21	$80,000	
Interest Rate:	2.000%		
Maturity Date:	5/1/22	$85,000	
Interest Rate:	2.125%		
Maturity Date:	5/1/23	$85,000	
Interest Rate:	2.250%		
Maturity Date:	5/1/24	$85,000	
Interest Rate:	2.500%		
Maturity Date:	5/1/25	$90,000	
Interest Rate:	2.600%		
Maturity Date:	5/1/26	$90,000	
Interest Rate:	2.750%		
Maturity Date:	5/1/27	$95,000	
Interest Rate:	2.875%		
Maturity Date:	5/1/28	$95,000	
Interest Rate:	3.100%		
Maturity Date:	5/1/32	$420,000	
Interest Rate:	3.250%		
Maturity Date:	5/1/37	$605,000	
Interest Rate:	3.400%		
Maturity Date:	5/1/47	$1,545,000	

Bonds outstanding - 9/30/2024		
$2,940,000	
	May 1, 2025 (Mandatory)	($90,000)	
Current Bonds Outstanding		$2,850,000	

Series 2017-2, Special Assessment Bonds	

Interest Rate:	
4.000%		
Maturity Date:	5/1/28	$535,000	
Interest Rate:	5.000%		
Maturity Date:	5/1/37	$1,135,000	
Interest Rate:	5.000%		
Maturity Date:	5/1/47	$2,020,000	

Bonds outstanding - 9/30/2024		
$3,525,000	
	May 1, 2025 (Mandatory)	($85,000)	
Current Bonds Outstanding		$3,440,000	
	
Total Current Bonds Outstanding		$6,290,000	

Turtle Run
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Broward County

TOTAL ASSESSMENT LEVY (RU) 2017-1	Gross Assessments	$
ON ROLL ASSESSMENTS

589,026.13  $

197,135.21  $

786,161.34

Allocation in %	74.92%	25.08%	100.00%
Date	Distribution	Gross Amount	Discount/(Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/24	
11/1/24-11/15/24	
$	94,915.43	
$	3,926.35	
$	909.89	
$	-	
$	90,079.19	
$	67,491.23	
$	22,587.96	
$	90,079.19	
12/03/24	PROP APPRAISER	-	-	778.48	-	(778.48)	(583.27)	(195.21)	(778.48)	
12/06/24	11/1/24-11/30/24	155,052.27	6,202.42	1,488.50	-	147,361.35	110,409.51	36,951.84	147,361.35	
12/18/24	12/1/24-12/11/24	427,963.13	17,054.98	4,109.08	-	406,799.07	304,791.48	102,007.59	406,799.07	
12/27/24	12/12/24-12/21/24	5,238.97	169.29	50.70	-	5,018.98	3,760.44	1,258.54	5,018.98	
01/06/25	12/1/24-12/31/24	16,363.78	490.87	158.73	-	15,714.18	11,773.74	3,940.44	15,714.18	
01/10/25	1/1/25-1/6/25	2,387.08	66.96	23.20	-	2,296.92	1,720.95	575.97	2,296.92	
01/24/25	INTEREST	-	-	-	396.09	396.09	296.77	99.32	396.09	
02/14/25	1/7/25-1/31/25	17,980.50	378.04	176.02	-	17,426.44	13,056.64	4,369.80	17,426.44	
03/14/25	2/1/25-2/28/25	13,003.26	136.40	128.67	-	12,738.19	9,544.00	3,194.19	12,738.19	
04/11/25	3/1/25-3/31/25	26,620.84	9.28	266.12	-	26,345.44	19,739.14	6,606.30	26,345.44	
04/25/25	INTEREST	-	-	-	842.08	842.08	630.92	211.16	842.08	
05/15/25	4/1/25-4/30/25	$18,580.77	$0.00	$188.19	239.38	18,631.96	13,959.87	4,672.09	18,631.96	
	TOTAL	$	778,106.03	$	28,434.59	$	8,277.58	$	1,477.55	$	742,871.41	$	556,591.42	$	186,279.99	$	742,871.41	

$

98.98%
8,055.31

Percent Collected
Balance Remaining to Collect

TOTAL ASSESSMENT LEVY (RT) 2017-2	Gross Assessments	$
ON ROLL ASSESSMENTS

277,511.06  $

102,241.55  $

379,752.61

Allocation in %	73.08%	26.92%	100.00%
Date	Distribution	Gross Amount	Discount/(Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/24	
11/1/24-11/15/24	
$	82,829.15	
$	3,313.17	
$	795.16	
$	-	
$	78,720.82	
$	57,526.66	
$	21,194.16	
$	78,720.82	
12/03/24	PROP APPRAISER	-	-	376.04	-	(376.04)	(274.80)	(101.24)	(376.04)	
12/18/24	12/1/24-12/11/24	296,923.46	11,876.94	2,850.47	-	282,196.05	206,219.85	75,976.20	282,196.05	
1/24/25	INTEREST	$0.00	$0.00	$0.00	$212.51	212.51	155.30	57.21	212.51	
	TOTAL	$	379,752.61	$	15,190.11	$	4,021.67	$	212.51	$	360,753.34	$	263,627.01	$	97,126.33	$	360,753.34	

$

100.00%
-

Percent Collected
Balance Remaining to Collect

TOTAL ASSESSMENT LEVY (RN) 2017-2	Gross Assessments	$
ON ROLL ASSESSMENTS

489,275.22  $

174,690.67  $

663,965.89

Allocation in %	73.69%	26.31%	100.00%
Date	Distribution	Gross Amount	Discount/(Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/24	
11/1/24-11/15/24	
$	113,237.69	
$	4,529.50	
$	1,087.08	
$	-	
$	107,621.11	
$	79,305.79	
$	28,315.32	
$	107,621.11	
12/03/24	PROP APPRAISER	-	-	657.48	-	(657.48)	(484.50)	(172.98)	(657.48)	
12/06/24	11/1/24-11/30/24	470,063.29	18,802.53	4,512.61	-	446,748.15	329,207.87	117,540.28	446,748.15	
12/18/24	12/1/24-12/11/24	68,332.08	2,733.29	655.99	-	64,942.80	47,856.23	17,086.57	64,942.80	
1/6/25	12/1/24-12/31/24	$4,897.72	$146.93	$47.51	$0.00	4,703.28	3,465.84	1,237.44	4,703.28	
1/24/25	INTEREST	$0.00	$0.00	$0.00	$384.73	384.73	283.51	101.22	384.73	
	TOTAL	$	656,530.78	$	26,212.25	$	6,960.67	$	384.73	$	623,742.59	$	459,634.74	$	164,107.85	$	623,742.59	

98.88%	Percent Collected	
$	7,435.11	Balance Remaining to Collect	
		
99.15%	Total Percent Collected	
$	15,490.42	Total Balance Remaining to Collect